Porsche-backed Group14 closes new funding, takes control of JV's battery material plant

An electric vehicle charging location is shown from the view of a drone in Carlsbad, California, U.S., May 14, 2025. REUTERS/Mike Blake/File Photo

(Reuters) -Group14 Technologies said on Wednesday it had raised $463 million in its latest financing round led by South Korean investment firm SK, as the silicon-based battery material startup aims to scale up production.

The startup said it also acquired the remaining 75% stake in its joint venture with SK, gaining full ownership of manufacturing operations for its silicon battery material in South Korea.